The White House in Downtown NA

Retail-Commercial for Sale
Catylist Listing ID: 30837558
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 26,040 SF
Gross Building Area: 35,520 SF
Sale Price: $2,000,000
Unit Price: $76.80 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Building Name: The White House
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/23/2023

Overview / Comments

The Iconic WHITE HOUSE is now available. Built in 1866, located in Historic Downtown New Albany and a HOT growth area. Over the last 15 years, despite the pandemic, our Downtown has continued to grow. There are three stories plus a full basement, an elevator, various sizes of offices, conference rooms, restrooms on all floors, break-rooms, fire exit steps inside and a very professional setting with a dramatic view from the first floor, a feature not in many buildings. Downtown offers very pleasing architecture and an unimaginable history. 222 Pearl St has been renovated on the exterior and interior with the absolute best office space in all of Downtown. So many great restaurants, winery, breweries, boutique shops, professional services and all levels of government (fed, state, county and the new City Hall). Fantastic luxury apartment, renovated loft and studio spaces when available. Did I mention the Farmers Market is all year round.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-00-200-262.000-008
Retail Clientele: General, Family, Business, Tourist, Recreation
Property Located Between: E Market and E Main Streets
Property Visibility: Excellent
Largest Nearby Street: State and Spring Street
Highway Access: Immediate to I-64, I-265 and I-65 which takes you to Louisville Ky in 5 minutes if desired to experience the "bigger city". Otherwise, quick and easy access to all interstates N,S,E and West.
Airports: Louisville International, Clark County Regional Airports
Site Description: Built in 1866, local iconic bldg known as the White House, which was a famous department store that Louisville patrons enjoyed as well. Three stories and a basement, a mix of retail along the storefront which offers glass across the frontage. Surrounded by adjoining historic buildings and a robust atmosphere.
Area Description: Located in Historic Downtown New Albany which offers 10 blocks of some of the most fantastic architecture like Federal, Greek Revival, Italianate, Renaissance Revival, Beaux Arts, Neoclassical and Chicago Commercial. The district was listed in the National Register of Historic Places in 1999. A visit would give you the feeling of a great "All American" small town USA. A great number of restaurants, wineries, breweries, boutique shops, government offices and professional services along with several Downtown living options (when available) and many other nearby home and apartment options within walking distance. A state of the art YMCA, Ohio River frontage with parks and walking paths and a stage for outdoor performances at the amphitheater.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 8,650 SF
Property Condition: Excellent
Year Built: 1866
Roof Type: Other
Construction/Siding: Brick, Stucco
Exterior Description: Fronting Pearl Street is a wide multi-door entry with retail spaces flanking, offices on all other floors. Awnings over windows across the front and glass all along the street level.
Parking Description: Free street parking at the door and a City Lot just up the street, also free. There is also a parking garage a block away.
Passenger Elevators: 1
Sprinklers: Wet
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: Very professional offices, dramatic floor opening, steps and elevator, restrooms all floors, very tasteful decor and design, fresh and cozy feel, various individual size offices or smaller suites, The 3rd floor could offer a fantastic corporate setting as it is used now. Everything about this place is just well presented.
Zoning Description: The DOWNTOWN (D) district is intended for the expansion of residential, employment, Governmental and recreational uses currently found within the Downtown area to continue its revitalization and create high quality pedestrian environment. Commercial uses, office space, residential uses. See City website or City P & Z for more detail.
Water Service: Municipal
Sewer Type: Municipal
Legal Description: P. 93 PRT L 5 #30,; P. 93 PRT L5 #31 P. 93 PRT L 7 #152 TIF (consist of 3 parcels)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,228 83,070 191,514
Median Age: 36.94 36.32 36.61
Households: 5,190 33,991 79,805


Photograph of Listing Agent

Michael A Kopp

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